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South Bay Market Trends Report

May 13, 2024

Real estate has been booming here in the South Bay, seeing some excellent changes between 2023 and 2024. Below, you will find some statistics regarding home sales in the South Bay Area for the month of April, courtesy of Strand Hill: 

 

Manhattan Beach

  • 65 active listings
  • Average list price of $6,962,900
  • 21 days on market
  • 21 homes sold
  • Average sold price $3,283,000
  • 3.1 months of inventory 

The average number of days on the market decreased by 60% between April 2023 and April 2024. 

 

Hermosa Beach

  • 30 active listings
  • Average list price of $5,202,000
  • 35 days on market
  • 21 homes sold
  • Average sold price $2,787,200
  • 1.4 months of inventory 

Between April 2023 to April 2024, the total number of closings increased by 50%, the average list price increased by 3%, and the median sales price increased by 12%.

 

Redondo Beach

  • 78 active listings
  • Average list price of $2,045,600
  • 28 days on market
  • 70 homes sold
  • Average sold price $1,766,700
  • 1.1 months of inventory 

Between April 2023 to April 2024, the total number of closings increased by 67%, average sold price increased by 11%, and the average square foot price increased by 13%. 

 

Torrance

  • 77 active listings
  • Average list price of $1,032,200
  • 19 days on market
  • 100 homes sold
  • Average sold price $1,032,200
  • 0.8 months of inventory 

Between April 2023 to April 2024, the total number of closings increase by 39% and the average sold price increased by 3%. 

 

Palos Verdes

  • 142 active listings
  • Average list price of $4,539,075
  • 20 days on market
  • 64 homes sold
  • Average sold price $3,271,275
  • 3 months of inventory 

Between April 2023 to April 2024, the total number of closings increased by 33%, average sold price increased by 25%, average days on market decreased by 41%, and median sales price increased by 24%. 

 

San Pedro

  • 61 active listings
  • Average list price of $959,300
  • 24 days on market
  • 42 homes sold
  • Average sold price $838,000
  • 1.5 months of inventory 

Between April 2023 to April 2024, the total number of closings increased 8%, average sold price increased by 75%, and the average square foot price increased 9%

 

As you can see in the above statistics, across the South Bay, we have especially seen increases in home value and buyers moving more quickly to purchase these homes. The South Bay continues to become more desirable, with incredible assets including our proximity to Los Angeles, scenic views, and incredible education options. If you are looking to put your house on the market, now is the perfect time. As the Top Woman Listing Agent in the South Bay, I am familiar with market trends and will help you sell your home for the best possible price, with honesty and efficiency. 

 

Contact Suzanne Dyer at 310-528-7480.

CA DRE license # 01054310

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